#灰度zcashetf资产突破5亿美元 Don’t look at the hype around ZEC—how much is that supposed ETF? It’s not that impressive, is it?
Grayscale’s Zcash ETF (ZCSH) pulled in $500 million in just two weeks, with 550,000 ZEC in holdings. On the surface, that looks pretty intimidating, and ZEC even surged to 1,180 along the way. But folks, we need to settle the numbers properly.
If you compare it to the ETFs for BTC and ETH, it’s like a little fish meeting a big whale. Look at the other “me-too” brothers as well: Solana’s ETF is only a bit over $900 million, and the Litecoin ETF is even worse—just a few million, barely moving. As for Zcash’s $500 million, it’s basically propped up by Grayscale and DCG first throwing in $100 million to set the stage—plainly, it’s mostly internal buy-and-sell.
With things like this, the “me-too” ETF’s scale is so small that it can’t really absorb big inflows. In the short term, sentiment may get a little carried away by this “single-vendor” type of momentum, but look at the bigger picture: the Fed still has to keep hiking, oil prices are about to break $100, and risk assets are already jittery. At this point, rushing in with thoughts of “let’s go now” doesn’t beat pausing to figure out how to protect profits.
In terms of direction, the big guy (BTC) and ETH are still the favorites—these “me-too” ETF stories are just getting started. Don’t rush to become the next bag-holding retail investor. Short-term sentiment could top out pretty quickly; for now, the main play is to short on strength. $ZEC $DASH
Grayscale’s Zcash ETF (ZCSH) pulled in $500 million in just two weeks, with 550,000 ZEC in holdings. On the surface, that looks pretty intimidating, and ZEC even surged to 1,180 along the way. But folks, we need to settle the numbers properly.
If you compare it to the ETFs for BTC and ETH, it’s like a little fish meeting a big whale. Look at the other “me-too” brothers as well: Solana’s ETF is only a bit over $900 million, and the Litecoin ETF is even worse—just a few million, barely moving. As for Zcash’s $500 million, it’s basically propped up by Grayscale and DCG first throwing in $100 million to set the stage—plainly, it’s mostly internal buy-and-sell.
With things like this, the “me-too” ETF’s scale is so small that it can’t really absorb big inflows. In the short term, sentiment may get a little carried away by this “single-vendor” type of momentum, but look at the bigger picture: the Fed still has to keep hiking, oil prices are about to break $100, and risk assets are already jittery. At this point, rushing in with thoughts of “let’s go now” doesn’t beat pausing to figure out how to protect profits.
In terms of direction, the big guy (BTC) and ETH are still the favorites—these “me-too” ETF stories are just getting started. Don’t rush to become the next bag-holding retail investor. Short-term sentiment could top out pretty quickly; for now, the main play is to short on strength. $ZEC $DASH
